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1461 Richmond Road

Gerald Peters Acquires Retail Property From Mancini Giuffre In Staten Island For $5.7M
SOLDRetail

Gerald Peters Acquires Retail Property From Mancini Giuffre In Staten Island For $5.7M

1461 Richmond Road

$5,700,000

$934/SF

Building Size

6,100 SF

Asset Type

Retail

Closing

Apr 9, 2024

AI

The retail property located at 1461 Richmond Road in Staten Island was recently sold for $5,700,000. The asset spans 6,100 square feet, resulting in a price per square foot of $934. The transaction took place on 04/09/2024, with Gerald Peters acquiring the property from Mancini Giuffre. The sale was facilitated by Robert Nixon from Prendamano Real Estate.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $5,700,000
  • Address: 1461 Richmond Road
  • Market: Staten Island
  • Buyer: Gerald Peters
  • Seller: Mancini Giuffre
  • Broker: Robert Nixon - Prendamano Real Estate

The transaction involved Gerald Peters as the buyer and Mancini Giuffre as the seller. Robert Nixon of Prendamano Real Estate represented the parties involved in the sale of this retail property. The deal signifies a significant exchange within the Staten Island market, showcasing the active participation of these key individuals and companies in real estate transactions.

Players

Robert Nixon

PreReal Real Estate

Broker

$99M

vol

9 deals

Broker

Staten Island Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.78%

Cash-on-Cash

-0.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93